FARMERS & MERCHANTS TRUST Co OF LONG BEACH Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 21.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,377 shares of the electric vehicle producer’s stock after buying an additional 420 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Tesla were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TSLA. Norges Bank bought a new stake in Tesla during the fourth quarter valued at about $7,844,757,000. International Assets Investment Management LLC lifted its holdings in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Morgan Stanley increased its stake in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after buying an additional 1,402,443 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 9.0 %

TSLA stock traded up $18.82 during trading on Tuesday, hitting $228.68. The company had a trading volume of 117,762,563 shares, compared to its average volume of 95,829,250. The firm has a market capitalization of $729.31 billion, a P/E ratio of 58.57, a PEG ratio of 4.91 and a beta of 2.31. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a 50 day simple moving average of $177.80 and a 200-day simple moving average of $191.38.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. As a group, research analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TSLA. Deutsche Bank Aktiengesellschaft boosted their price objective on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Wednesday, April 17th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Tesla in a research note on Wednesday, June 12th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $187.30.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.